NEWMARKET, United Kingdom (AFP) – Syndicates are a lifeline to racing fans who cannot afford to own a horse individually and in also attracting the young who are pivotal if the sport is to blossom, leading English trainer Richard Hannon Junior told AFP .

The 42-year-old says another advantage to syndicate ownership is it is much more fun being part of a team of owners than standing on your own in a parade ring win or lose.

Hannon Junior, who trains 250 horses in Wiltshire, south-west England, is well versed in seeing the rapturous scenes of mass joy when syndicates win as happened with rank outsider Billesdon Brook in this year’s English 1000 Guineas which ran in the colours of Pall Mall Partners.

“Syndicates have been a lifeline to a lot of people because it makes racehorse ownership more affordable,” the affable trainer told AFP at the recent Yearling Sales at Europe’s leading bloodstock sales company Tattersalls in Newmarket.

“They (racehorses) are an expensive hobby and syndicates are becoming more prevalent than ever, more than we have ever seen.

“However, only a handful are very well run. They have to be managed well and know where they are going.”

Hannon began his training career with a bang being crowned champion trainer in 2014 after filling the ample shoes of his father Richard Senior.

The trainer, who has a broad range of owners which includes Dubai powerhouse Godolphin Operation, says an injection of youth is vital.

“The average age of those running racing is 72 and that is wrong,” he said.

“We are screwed if that continues we need to bring the young in and the best way of doing that is syndicates.

“They (the young) don’t want to chuck £50,000 (US$65,000) into the sport on one horse on their own — a lot of them will have two kids and a mortgage — plus £2,500 a month to keep it.

“When it’s been beaten in the first few races the wife will be saying ‘do you still want that thing’.”

The social aspect of being part of a syndicate is heartily endorsed by Richard Morecombe, chairman and co-founder with James Ramsden of the successful Chelsea Thoroughbreds and who have over 20 horses in training, several of whom are with Hannon Junior.

“I have had horses of my own (he has had over 100 winners) and it is not much fun standing on your own in a parade ring on a wet Monday,” he told AFP.

“Much nicer to be with a group of pals.

“We organise a bus for our members (there are around 100 who pay between £6,000 and £12,000 with 10 shares available for horses that cost less than £100,000 and 12 for those that cost more than that) to go to Newmarket for Guineas day regardless of having a runner or not.

“We also take a house for Glorious Goodwood (racing festival late July/early August) and have a bowling alley there.”

Morecombe, who along with Ramsden bought The Sydney Arms in the fashionable area of Chelsea in London which acts as their clubhouse, says the trainers they choose are generally sociable types but also expected to deliver, although Hannon jokes “He sells the dream I deliver the nightmare”.

“Only one in five horses win a race of any sort which is not very appealing,” said Morecombe, who is a banker by profession.

“The trainers are required to be socially entertaining and produce results as ultimately you have to have winners.

“We have had some good success,” added Morecombe who was reduced to tears of joy when Humphrey Bogart produced an impressive run as an outsider to finish fifth in the 2016 Epsom Derby.

For Tattersalls chairman Edmond Mahony syndicates are vital to trade.

“I think they are a great way of getting your feet wet financially in the game and not sinking in up to your waist,” he told AFP.

“They bring in young people who don’t necessarily have a lot of income and having a bit of a horse adds to the day out.

“It also adds atmosphere to the race track. Last weekend we had a £150,000-pound race with 30 runners and about 300 owners.

“That’s what it is all about.”